2017 Week 31: Working Weekend…Not

July 24-30, 2017

The system is ready for testing. Unfortunately, there are a lot of bugs and the user interface is not seamless yet. Hopefully, it stabilizes after all those findings last week.

And so, I was supposed to do some testing last Sunday. However, when I was about to start, electricity went off. Hence, I decided to just go to the mall and unwind a bit.

Unwinding means an early dinner at Yellow Cab and watching 2 movies hehehe. My friend was available so she joined me.

We watched Finally Found Someone. I cried the most at the scenes with JLC and his mom and siblings. #medyorelate #medyopagod

We also watched Cars 3. Well, the movie reminded us that my friend and I are getting old and that maybe one of the things we should be doing now is coaching. I have some coaching sessions sometimes at work but not much. Anyway…

My friend came from Bacolod and gave me some goodies – napoleones and cheese bars. It was my first time to taste napoleones and it is so yummy!!!! Napoleones is a layered puff pastry with custard cream filling and with glazed white sugar on top. I saw a 2011 article saying that this is available at Roli’s bakeshop stall at SM Megamall. I am not sure if it’s still there but it’s worth checking out hehe.

I also did 2 batches of laundry, mended some clothes, and ironed all office clothes. I usually do the ironing on weekends because I hate ironing one at a time, worst during weekdays.

My nephew has completed his OJT. He already went home but he’ll be back next week to get his other stuff. I hope he learned a lot.

My officemate started her training to becoming a registered financial planner. Their speaker last Saturday was Mr. Efren Ll. Cruz. I asked her to let him sign my copy of the book he authored and she was able to do it. I’m ecstatic! I have his book for almost a decade now.

SignedBook

Thank you, Sir for that message. Still working on improving my financial standing hehe.

I watched some videos about capsule wardrobe last Saturday. I was inspired to 1) double check again (because I’ve decluttered at least twice this year already) the things I own to make sure that I only keep those that I use and make me happy, 2) have a color palette and style because this in a way helps establish a personal branding and it’s easier to mix and match. I’ll work on #1 in August. For #2, I’ll Ā start when I need to buy new stuff because refreshing my clothing is not practical at this time as all are still in good condition. I still want to get my money’s worth for the items that I have now. I already know the color palette I like. It will be blue, gray, black, white, and maybe blush pink because I think these are the colors that best suit me.

And that’s it. Have a blessed week ahead.

Peace,

Mylene

Personal Finance: Financial Seminar by BDO

BDOFinancialWellnessSeminarI’ve shared about BDO’s seminar previously. Lucky that a friend and I got seats so off we went last Saturday to attend.

The speaker was Sir Efren Ll. Cruz, a registered financial planner, personal finance coach, and a bestselling author. I have read his book entitled “Pwede Na! The Complete Pinoy Guide to Personal Finance”. I loved his book because it was very easy to read and understand so somehow, his name was kept somewhere in my memory. I have also heard of him from a colleague when she shared that she and her husband availed of his service as a financial planner. My friend’s friend and his husband also got him as their financial planner.

The seminar’s title was “How to Break The Rules of Thumb in Personal Finance”. Here are some of the things I was able to take note of.

100 minus age Rule

According to this rule, the difference when you subtract your age from 100 should be the percentage of your portfolio that is invested in the stock market. However, it is still case to case. For people who just started saving for their retirement few years before they retire, they should be more aggressive in their investments.

Diversification Rule

As a rule of thumb, we must diversify but we also need to ensure that we don’t over-diversify because in doing so, we may lose our chances of higher gains. According to Sir Efren, stock performance is 92% based on the market performance, 5% by the fund manager, 2% timing and 1% sheer luck.

Buy Low, Sell High

This is a little bit tricky because we only know when it is the lowest price or the highest price after the fact. The brain needs something to compare it to before it can conclude that it’s the lowest or the highest.

His recommendation is to set a target and look for stocks that can return your target then sell when your target is met. Looking for stocks entails a lot of studying and analysis, he says.

20:20 Retirement Rule

The rule states that if you will retire for 20 years, you should start preparing for your retirement 20 years prior your target retirement age.

On the contrary, we should start planning for our retirement as early as we can so that we can take advantage of time and also the years that we don’t have much responsibilities and bills to pay yet. At 20 years prior target retirement age, you may already have started a family so there are more expenses to pay and saving for retirement may become the least priority. So it’s better to start as early as you can.

Buy Your Own Home Instead of Renting

While there are more affordable properties in the market now, you should really assess first if you are ready to transition to home ownership. You should consider all additional costs that it entails. If you think you are ready, then go ahead. Otherwise, there is nothing wrong with renting while you are saving up for the budget needed for home ownership.

After presenting the above rules, his next question was, “Are you all S.E.T?” where SET was used as an acronym for:

S – size of fund
E – expertise in investing
T – time available in investing

For us to be successful direct investors, we need to have a sizable fund, we need to be experts in investing and to be an experts, it is a full time job, and we should have the time to learn the ropes, do a lot of research, and come up with our own investing strategies.

However, most of us are not really S.E.T. So his recommendation was to hire professionals to do the investing for us. In doing so, we take advantage of the skills of the fund managers for a minimal fee. If we go this route, we can choose from Mutual Funds (MFs, offered by Mutual Fund companies), Unit Investment Trust Funds (UITFs, offered by the Trust arm of banks), or VULs (offered by insurance companies). I won’t elaborate on each of the options as there are a lot of resources available online for the differences of the 3 and which companies offer what.

His parting lines were:

  • Focus on the life events you want to achieve, not the money.
  • Strongest currency is FAITH.

A speaker from BDO was next and he presented the available UITF options that their bank offers.

Personal note:
Others may or may not agree and that’s fine. After all, personal finance is still really just that…PERSONAL. As for me, I am thankful for opportunities such as this. Nothing beats learning for free. With J.Co donuts and coffee for snacks pa. San ka pa. Thanks, BDO! šŸ™‚

Related Posts Plugin for WordPress, Blogger...